08:36 AM EST, 02/03/2025 (MT Newswires) -- Vanda Pharmaceuticals ( VNDA ) and AnaptysBio ( ANAB ) said Monday that they signed an agreement providing Vanda an exclusive global license to develop, manufacture, and commercialize imsidolimab.

As part of the agreement, Vanda will make an upfront payment of $10 million and an additional $5 million for the existing drug supply to AnaptysBio ( ANAB ), which is also eligible for up to $35 million in milestone payments and a 10% royalty on net sales, according to a joint statement.

Two phase 3 trials assessing the safety and efficacy of imsidolimab in generalized pustular psoriasis have been completed, the companies said.

Vanda plans to complete technology transfer activities in 2025, the companies added.